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JOTUN A/S
STATEMENT OF CHANGES IN EQUITY
(NOK THOUSAND) NOTE SHARE CAPITAL OTHER EQUITY TOTAL EQUITY
Equity as of 1 January 2016 102 600 4 119 633 4 222 232
Dividends 15 –513 000 –513 000
Profit for the year 947 961 947 961
Other comprehensive income –2 659 –2 659
Equity as of 31 December 2016 102 600 4 551 936 4 654 536
Dividends 15 –513 000 –513 000
Profit for the year 1 079 021 1 079 021
Other comprehensive income 3 –123 –123
Equity as of 31 December 2017 102 600 5 117 834 5 220 434
ACCOUNTING POLICIES
The financial statements for Jotun A/S have been prepared
in accordance with simplified IFRS pursuant to section 3-9 of
the Norwegian Accounting Act. This mainly implies that the
financial statements are presented in accordance with IFRS and
the notes are presented in accordance with the requirements
of the Norwegian Accounting Act. The accounting policies for
the Group therefore also apply to Jotun A/S, see summary of
significant accounting policies in Group statement.
In the process of applying Jotun A/S’ accounting policies,
management has made judgements, estimates and assumptions
which may have significant effect on the amounts recognised in
the financial statements.
Shares in subsidiaries, joint ventures and associated companies
are incorporated using the cost method of accounting, and are
consequently within the scope of impairment testing. Impairment
tests are made when objective evidence indicates that a loss
event has occurred after initial recognition. The value in use of
the investment is calculated based on future net cash flows. Key
assumptions related to the cash flow analysis are sales and profit
development, discount rate and terminal value.
For more information about accounting policies see Jotun Group.